Right-to-buy housing association homes - what it could mean for Reading

Reading Borough Council has launched a campaign against the Conservative Government’s proposal to give housing association tenants the right-to-buy their homes at a big discount.

Reading councillors are lobbying against the proposal and are saying - at the very least if it goes ahead - that the borough and other high housing cost areas should be exempt.

Q What might it mean to people living in housing association homes in Reading?

A If it becomes law, then 3,960 housing association tenants in the borough - along with 1.3 million others across the country - would be able to buy their homes at an increased discount.

Q What would that discount be?

A The Conservative manifesto proposal was that the price of the sale of housing association properties outside London would be capped at £77,000.

Q Don’t housing association tenants already have the right to buy?

A Some do, but the discount is much smaller - closer to the market value.

Q How will it affect the 10,000 people on the housing register in Reading?

A If it goes ahead, the housing bill proposed in the Queen’s Speech can only lead to a decrease in the number of social housing properties available for them to move into, increasing demand.

Q How will it affect people in the private-rented sector?

A It won’t help them, especially if they would like to move into social housing where the tenure is more secure.

Q What will it do to property prices?

A It could bring ultimately more houses on to the market which ought to have some affect on price inflation.

Q Are housing association tenants definitely going to get this enhanced right-to-buy?

A The Government has not yet brought forward the housing bill and housing associations are threatening to sue if it tries to strip them of their valuable assets.

Q Why is the council against the proposal?

A- House prices and rents are high in Reading. There are 10,000 people on the housing register. Lead councillor for housing thinks there is a housing crisis in Reading and any loss of social housing can only make it worse.